It is an important step for the Albanian economy and is the first concrete result of the intergovernmental summit between Italy and Albania held in Rome in November 2025.
The joint venture between Fincantieri, the world leader in shipbuilding owned by the Italian government's Cassa Depositi e Prestiti, and Kayo, a company specializing in the development of strategic infrastructure controlled by the Albanian Ministry of Defense, is launching.
La joint-venture, 51% Fincantieri e 49% Kayo,si occuperà della costruzione e della manutenzione di navi militari per la Marina albanese e per la costruzione di navi commerciali di lunghezza inferiore agli 80 metri.
These activities will take place mainly at the Pashaliman (Pns) shipyard near Vlora, which will be renovated and upgraded.
By 2030, about ten naval units will be completed, strengthening the Albanian Navy's activities in small and medium-sized coastal surveillance. (OPV Offshore Patrol Vessel)
The first two ships will bring the Albanian fleet to 7, in line with NATO standards.
Pierroberto Folgiero, CEO and General Manager of Fincantieri, and Ardi Veliu, CEO of Kayo, signed the agreement in Tirana. The Prime Minister of the Republic of Albania, Edi Rama, the Albanian Minister of Defense, Ermal Nufi, the Italian Ambassador in Tirana, Marco Alberti, and the General Manager of Fincantieri's Naval Vessels Division, Eugenio Santagata, were present.
Fincantieri CEO and General Manager Folgiero stated: «The joint venture between Fincantieri and Kayo represents a primary step in the path of industrial and strategic cooperation between Italy and Albania, confirming the solidity of a partnership founded on shared interests and a long-term vision. For Fincantieri, the initiative constitutes a strategic investment aimed at creating a production hub in Albania, intended to support the operational capabilities of the Albanian Navy and to foster an industrial and commercial projection of the joint venture in international markets. The agreement also contributes to affirming the role of Fincantieri and Italy as leading industrial players in the Mediterranean.».
According to Prime Minister Edi Rama, this initiative represents a significant moment not only for security and the Armed Forces, but also for the economy and the future of young Albanians.
“We have reached an important point for the future of Albania's security apparatus and Armed Forces, but also for the economy and for young people. The agreement with Fincantieri aims at the creation of a new company that will produce military ships in Albania, at the Pashaliman shipyard, for the benefit of the Albanian army and allies,” Rama stated.
The prime minister emphasized that the project will also have a direct impact on the vocational training of young people, particularly students from the industrial school in Valona, who will be the first to be involved and trained by Fincantieri specialists.
According to Edi Rama, the partnership with Fincantieri and Kayo not only strengthens energy and military security, but also opens new economic and employment prospects, transforming Vlorë into a strategic center for shipbuilding in the region.
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